DRCT- here are my 2024 eps estimates based on revenue guidance
Total revenue guidance for 2024 was $170M-$190M, for an average of $180M. GP margins were 22.7% overall for 2023, with 58% coming from buy side revenues, and about 14% margins from the sell side. However sell side is the vast majority of revenues. If we use the overall 22.7% margins in 2023, and project to 2024 on $180M, we get gross profit of about $41M. However operating expenses were $31M for 2023, with the increase revenue in Q4 causing operating expenses to go to $9.3M. Since the pace of revenues going forwars is $45M/qtr vs $41M for Q4. I am assuming operating expenses will be at least $9.3M/qtr, or $37M for 2024.
So if we have gross profits at $41M, and operating expenses at $37M+ for 2024, that leaves at post around $4M in profits. With 15M fd shares, that would make them around $.27 in eps for 2024 !
